Oriental Rise Delisted from Nasdaq; Appeal Under Review
Oriental Rise Holdings Limited announced that the Nasdaq Hearings Panel denied its request for continued listing, leading to the suspension of its ordinary shares from The Nasdaq Capital Market on June 24, 2026. This decision came despite the Company's 1-for-4 reverse stock split becoming effective on June 22, 2026, which resulted in post-split trading prices above Nasdaq's minimum bid price requirement. Oriental Rise submitted an emergency request for reconsideration and a stay of suspension, which is currently under review by the Panel, though the suspension remains in effect. The Company intends to pursue further appeals if reconsideration is denied and expects its shares to trade on the over-the-counter market.
Key Highlights
- Nasdaq Hearings Panel denied Oriental Rise's request for continued listing.
- Trading in Oriental Rise's ordinary shares on Nasdaq was suspended on June 24, 2026.
- A 1-for-4 reverse stock split became effective on June 22, 2026.
- Post-split shares opened at $2.04 and closed at $2.42 per share on June 22, 2026.
- Company submitted an emergency request for reconsideration and a stay of suspension.
- Nasdaq initially miscommunicated a stay, then clarified the suspension was not stayed.
- The Panel is currently considering the Company's request for reconsideration.
- Oriental Rise expects its shares to be quoted in the over-the-counter market under ORISF.
Price Impact
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